Freedom From Health Insurance with Andy Schoonover
Dec 28, 2023
auto_awesome
Andy Schoonover, founder and CEO of CrowdHealth, discusses the drawbacks of health insurance and the benefits of cash payments for healthcare services. He explores affordable healthcare options for entrepreneurs through CrowdHealth, a crowdfunding approach. The chapter also emphasizes the importance of surrounding oneself with the right people and being a member of CrowdHealth.
Health insurance plans and hospital systems both have perverse incentives that drive up healthcare costs.
Operating without health insurance can be more freeing, allowing individuals to negotiate lower prices and avoid the hassle of dealing with insurance plans.
Deep dives
The Problems with Health Insurance Incentives
Health insurance plans and hospital systems both have perverse incentives that drive up healthcare costs. The sellers of healthcare, such as hospitals, want the prices to go up, while the buyers, insurance plans, also benefit from higher prices due to legislation capping their profits at a percentage of premiums. As a result, healthcare costs continue to rise due to these perverse incentives.
The Viability of Being Uninsured
The guest, Andy, believes that being uninsured can be more freeing and offers more power when seeking healthcare services. He suggests that operating as we did before 1970, with individuals paying for healthcare out of pocket, would maintain market forces and drive prices down. Moreover, by paying in cash, individuals can negotiate lower prices with doctors and hospitals. Andy emphasizes that going cash pay eliminates the hassle and costs associated with dealing with health insurance plans and allows for better rates for healthcare services.
CrowdHealth: A Viable Alternative to Health Insurance
Andy introduces CrowdHealth as a viable alternative to health insurance. It operates on a crowdfunding model where members directly support each other financially for healthcare expenses. By funding humans instead of health insurance, CrowdHealth eliminates the middleman and fosters a sense of community while providing lower-cost healthcare. The community helps negotiate bills, provides financial support, and shares data to make informed decisions. CrowdHealth aims to unleash the power of entrepreneurship by offering accessible healthcare options, empowering individuals to pursue their entrepreneurial dreams without the fear of high healthcare costs.
Andy Schoonover is founder and CEO of CrowdHealth, a company founded to give people the tools to free themselves from the tyranny of health insurance.
Top 3 Value Bombs
1. The sellers of healthcare, which are big hospital systems, primarily want the price to go up. What people don’t understand is buyers of healthcare, which are the insurance plans, actually also want the price to go up.
2. Each doctor has about three people that he or she needs to build health insurance plans. He or she spends about 30% of their time fighting with health insurance companies about what they can or cannot do with their patients.
3. Instead of you having to give your monthly check to a big, cold insurance company - that's actually your enemy when it comes to getting your bills paid - you're giving your money directly to another human being.
Visit and use the promo code EOF to get $99 a month for the first 3 months - Join Crowd Health
Sponsors
HubSpot Meet HubSpot’s new AI-powered Campaign Assistant, a totally free-to-use AI tool tailor-made for the marketers and business builders who spend hours each day on content creation. Head to HubSpot.com/campaign-assistant to test-drive Campaign Assistant for free
Thought-Leader Ever thought about giving a TEDx talk. Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode